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Based on transaction prices, the fund's return was 3.13%. In March, Multi Asset Sustainable delivered an excellent performance. The fund delivered a positive return of more than 300 basis points. The fund benefited from the rising equity markets. During the month, the exposure to emerging market equities was lowered. The rise in the US dollar is weighing disproportionally on emerging market assets. In developed market equities, we lowered our exposure to the US further in favor of Japanese and European equities. We expect the latter regions to outperform the US, as they are more geared towards value stocks. We continue to hold a preference for the riskier part of the fixed income space, but prefer high yield bonds to investment grade corporate bonds. No changes were made to our exposure to commodities. Government bonds were a drag on performance. All equity funds in the thematic sustainable bucket contributed positively to performance last month. The best-performing strategy in the portfolio was RobecoSAM Sustainable Water Equities.
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In March, the global economy continued to expand. The manufacturing sector even gained momentum from already elevated activity levels. As a result, global trade is recovering fast and is already just below its long-run upward trend. While the service sector continues to expand, from a global perspective, regional differences are becoming more notable. The Anglo-Saxon economies are leading in the vaccination rollout and subsequent reopening of their economies. The restart of the global economy is putting a strain on the global supply chain. This is starting to be reflected in higher prices as a consequence of logistical delays, shipping dislocations and increased skill mismatches in the labor markets. The improving economic backdrop continues to be the main driver of the financial markets. In March, however, the performance of risky asset was less synchronized. While the equity markets continued to do well, it was a more difficult month for commodities. We think the strengthening dollar negatively impacted this asset class. The fixed income markets remained under pressure.
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Sustainability Themed Fund |
This share class of the fund does not distribute dividend.
Robeco Multi Asset Sustainable integrates ESG at different stages of the investment process. We use sustainability performance rankings to focus our fundamental analysis on companies that have demonstrated superior sustainability performance compared to their peers. We then analyze the impact of financially material ESG factors to a company’s competitive position and value drivers. We believe that this enhances our ability to understand existing and potential risks and opportunities of a company. If ESG risks and opportunities are significant, the ESG analysis could impact a stock’s fair value and the portfolio allocation decision. Throughout the investment process, we strive for a low environmental impact, as measured by GHG emissions, energy consumption, water use and waste generation, with the aim of realizing 20% better levels than the index. In addition to ESG integration, Robeco conducts proxy voting and engagement activities focused on specific themes, such as climate change, aiming to improve a company’s sustainability profile. Furthermore, the fund will not invest in companies exposed to the following controversial sectors or business practices: military contracting, controversial weapons, fire arms, UN Global Compact breaches, tobacco, palm oil and thermal coal, according to strict revenue thresholds.
Robeco Multi Asset Sustainable is an actively managed global multi asset fund. The fund's objective is to achieve a better return than the index. The fund promotes ESG (i.e. Environmental, Social and corporate Governance) characteristics within the meaning of Article 8 of the European Sustainable Finance Disclosure Regulation and integrates ESG and sustainability risks in the investment process. In addition, the fund applies an exclusion list on the basis of controversial behavior, products (including controversial weapons, tobacco, palm oil and fossil fuel) and countries, while avoiding investment in thermal coal, weapons, military contracting and companies that severely violate labor conditions, next to voting and engaging. The fund invests in sustainable equity and bond funds of Robeco and RobecoSAM. The asset allocation strategy is subject to the investment restrictions and a limit on ex-ante volatility. The majority of investment instruments selected through this approach will be components of the Benchmark but investment instruments outside the Benchmark index may be selected too. The fund can deviate substantially from the weightings of the Benchmark. The investment policy is not constrained by a benchmark but the fund may use a benchmark for comparison purposes. The fund can take a substantial active risk. The fund can deviate substantially from the issuer, country and sector weightings of the Benchmark. There are no restrictions on the deviation from the Benchmark. The Benchmark is a broad market weighted index that is not consistent with the ESG characteristics promoted by the fund.
Risk management is fully embedded in the investment process to ensure that the fund's positions remain within set limits at all times.
Robeco Multi Asset Sustainable integrates ESG at different stages of the investment process. We use sustainability performance rankings to focus our fundamental analysis on companies that have demonstrated superior sustainability performance compared to their peers. We then analyze the impact of financially material ESG factors to a company’s competitive position and value drivers. We believe that this enhances our ability to understand existing and potential risks and opportunities of a company. If ESG risks and opportunities are significant, the ESG analysis could impact a stock’s fair value and the portfolio allocation decision. Throughout the investment process, we strive for a low environmental impact, as measured by GHG emissions, energy consumption, water use and waste generation, with the aim of realizing 20% better levels than the index. In addition to ESG integration, Robeco conducts proxy voting and engagement activities focused on specific themes, such as climate change, aiming to improve a company’s sustainability profile. Furthermore, the fund will not invest in companies exposed to the following controversial sectors or business practices: military contracting, controversial weapons, fire arms, UN Global Compact breaches, tobacco, palm oil and thermal coal, according to strict revenue thresholds.
Mr. Jeroen Blokland is Portfolio Manager with Robeco within the Robeco Global Allocation team. Jeroen is portfolio manager of the Robeco Pension Return Portfolio since the launch in March 2012. Prior to joining the Robeco Global Allocation team, he was employed by IRIS, the independent Institute for Research and Investment Services of Robeco and Rabobank, as an Investment strategist since 2005. He started his career at Interpolis in 2002, where he held a position as asset manager and investment strategist. Jeroen holds a Master's degree in Economics from Erasmus University, Rotterdam.
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ISIN | LU1821198576 |
Bloomberg | ROMASDE LX |
Valoren | 41769890 |
WKN | A2PQDX |
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1st quotation date | 1528243200000 |
Close financial year | 31-12 |
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The fund is established in Luxembourg and is subject to the Luxembourg tax laws and regulations. The fund is not liable to pay any corporation, income, dividend or capital gains tax in Luxembourg. The fund is subject to an annual subscription tax ('tax d'abonnement') in Luxembourg, which amounts to 0.05% of the net asset value of the fund. This tax is included in the net asset value of the fund. The fund can in principle use the Luxembourg treaty network to partially recover any withholding tax on its income.
The fiscal consequences of investing in this fund depend on the investor's personal situation. For private investors in the Netherlands real interest and dividend income or capital gains received on their investments are not relevant for tax purposes. Each year investors pay income tax on the value of their net assets as at 1 January if and inasmuch as such net assets exceed the investor’s tax-free allowance. Any amount invested in the fund forms part of the investor's net assets. Private investors who are resident outside the Netherlands will not be taxed in the Netherlands on their investments in the fund. However, such investors may be taxed in their country of residence on any income from an investment in this fund based on the applicable national fiscal laws. Other fiscal rules apply to legal entities or professional investors. We advise investors to consult their financial or tax adviser about the tax consequences of an investment in this fund in their specific circumstances before deciding to invest in the fund.
The information contained in the website is solely intended for professional investors. Some funds shown on this website fall outside the scope of the Dutch Act on the Financial Supervision (Wet op het financieel toezicht) and therefore do not (need to) have a license from the Authority for the Financial Markets (AFM).
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